Gov. Maggie Hassan has signed legislation that forces banks to mail foreclosure notices 45 days before scheduled auctions – nearly twice the number of days than is currently required in the state.
Loan providers are currently required to send notices 25 days before a sale, which is 12 days fewer than homeowners have under federal law to apply for a loan modification.
Lawmakers have been debating the extension for months. Proponents, who initially pushed for a 65-day notice, claim it will align the state with new federal guidelines announced last year through an effort to increase protections on struggling households.